Russell remains high into mid-day trading; OMTR, SWKS, and TSYS lead gainers
Small-cap stocks extended the morning rally into mid-session, with battered bank and financial stocks leading the way amid hope for a bank bailout plan to be rolled out early next week. Some of today’s small-cap gainers were Omniture, Inc. (Nasdaq:OMTR), Skyworks Solutions (Nasdaq:SWKS) and TeleCommunication Systems Inc. (Nasdaq:TSYS).
Other Market Watch highlights today included:
• However, there were some thoughts that the dismal reading will simply prod lawmakers to be more aggressive in agreeing to a big stimulus package.
• By any measure, the jobs report presented a bleak picture of the U.S. economy.
• Small-cap stocks pushed higher early Friday as investors chose a “glass half full” approach to this morning’s dreary employment.
• The chart structure for the Russell 2000 has eased into a mini-trading range within the elongated extended trading range.
Small Cap Gainers:
• Business optimization software provider Omniture, Inc. is up 17% after reporting big revenue jumps in Q4 earnings Thursday. (See Nasdaq:OMTR)
• Chip maker Skyworks Solutions is up 17% to $5.88 on stronger-than-expected Q1 earnings released after Thursday's close. (See Nasdaq:SWKS)
• Wireless communications technology company TeleCommunication Systems Inc. is up 17.2% to $8.50 after reporting positive Q4 earnings late Thursday.(See Nasdaq:TSYS)
• Air freight company Atlas Air Worldwide Holdings Inc. is up nearly 13% to $15.04 after this morning announcing it will trim freighter fleet and cut staff. (See Nasdaq:AAWW)
Small Cap Losers:
• Skechers USA Inc. is down 27% to $7.37 after an analyst downgrade. (See NYSE:SKX)
• Liquidity Services, Inc. is down 21.3% to $5.88 after a downgrade this morning by Oppenheimer. Liquidity operates an online auction marketplace for wholesale, surplus, and salvage assets. (See Nasdaq:LQDT)
• Consultant SRA International Inc. is down 20% to $13.40 after issuing lowered guidance late Thursday. (See NYSE:SRX)
• Convention- and event-marketing group Viad Corp. is down 14.8% to $18.12 after announcing before the opening that it swing to a Q4 loss. (See NYSE:VVI)
